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Tuesday, May 7, 2013

CFPB to Testify on Consumer Credit Reporting Industry

CFPB Assistant Director Corey Stone will testify before the Senate Commerce Subcommittee of Consumer Protection, Product Safety, and Insurance this afternoon regarding the consumer credit reporting industry.

The CFPB is the first federal agency to supervise both credit reporting companies and the largest furnishers of consumer credit information. Last July, the CFPB adopted a rule to extend its supervision authority to cover larger credit reporting companies.

In his prepared remarks, Stone discusses steps the CFPB has taken to advance understanding of the consumer credit reporting industry.

Read more.

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